Dampen at common and Petals at common. seems like without any of the good arcane spells the deck will be nothing like the old dampen thought deck though. I think its just going to end up with blue control decks playing 1xDampen 1xPetals as a millstone.

Edit: that said, with Dampen common now some weird fast mill decks will be possible as getting multiple copies will be pretty easy

MM2 will surely cover a different time period. Plus they didn't know if they would do MM2 when they made this set. It's a weird omission considering it is a $10 uncommon.

"Just to keep everyone informed. The Games Club will be running Modern Masters drafts every Tuesday and Friday throughout June starting this Friday. Price will be £30 with Dragon's Maze prizes." -- from Crispin.

It does seem like the kind of set they can revisit every two-three years or so, pushing the card window by the same amount each time. (Which would explain some of the LOR/SHM-block omissions at least.)